scholarly journals Analysis of Financial Performance of Cement Industry Manufacturing Companies in Tehran Stock Exchange Using the FAHP Technique and the TOPSIS Method

2019 ◽  
Vol 10 (2) ◽  
pp. 512
Author(s):  
Sahar Omrani ◽  
Mostafa Jafari ◽  
Ali Mansori
Keyword(s):  
Stock Exchange ◽  
Fuzzy Model ◽  
Cement Industry ◽  
Decision Makers ◽  
Financial Ratios ◽  
Manufacturing Companies ◽  
Topsis Method ◽  
Topsis Approach ◽  
Profitability Ratios ◽  
The Ideal

ObjectiveThe aim of this study was to provide a fuzzy model for evaluating the performance of cement industry manufacturing companies listed in Tehran Stock Exchange in 2013, 2014 and 2015 using financial ratios and considering the preferences of different decision makers.MethodologyThis study was based on FAHP and TOPSIS, in which the FAHP was used to determine the weight of different criteria of the decision makers. Finally, the cement industry companies were ranked using the TOPSIS approach. In this study, different financial ratios such as liquidity ratios, leverage ratios, activity ratios, profitability ratios, and growth ratios were used for evaluation.Results & FindingsEleven findings and nineteen results were presented that three Soufian Cement Company, Ghadir Capital and Industry Development Cement Company, and Hegmatan Cement Company from Three East Azarbaijan, Tehran, and Hamedan provinces and from three different geographic regions of Iran have had the most similarity with the ideal solution in the ranking of options (alternatives) by the TOPSIS method. Also, in the light of core values and by maintaining their market share and competent corporate governance, they have gained the highest output of the cement industry by obtaining the first rank respectively in 2013, 2014, and 2015, which, in turn, can be a good representative of the country's cement industry. By modeling the top companies and with the help of science along with analyzes in other sectors of the cement industry, the firms with weaker performance can strengthen their performance. This can become a strong strength for the Iranian cement industry.

scholarly journals PENGARUH RASIO LIKUIDITAS DAN RASIO SOLVABILITAS TERHADAP RASIO PROFITABILITAS PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK JAKARTA

2017 ◽  
pp. 104-124
Author(s):  
Fratis F. Gultom
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Financial Ratios ◽  
Linear Regression Method ◽  
Manufacturing Companies ◽  
Technical Documentation ◽  
Analysis Technique ◽  
Study Population ◽  
Solvency Ratio ◽  
Profitability Ratios

Calculation of financial ratios is one of the financial statement analysis tools to compare the data with other data, to determine the interrelationships between assets, liabilities and capital which can then be determined level of liquidity, solvency and profitabilitas.Berdasarkan preliminary research note that the ratio - financial ratios ( liquidity ratio and solvency ratio) of manufacturing companies that have gone public on the Jakarta Stock Exchange has a different relationship when associated with profitabiitas. Based on the description, research the problem can be formulated as follows: "Is the liquidity ratio and solvency ratio has a significant influence on the profitability ratios of manufacturing companies in Jakarta Stock Exchange?" Population is the total number of objects to be observed or researched. This study population is a manufacturing company in Jakarta Stock Exchange as many as 153 companies. Sample is part of the population. Study sample are liquidity ratios, solvency ratios and profitability ratios 34 manufacturing firms in 2001-2003. Secondary data collection techniques through technical documentation. data analysis technique used is multiple linear regression method to clarify the effect of liquidity ratios and solvency ratios of profitability ratios. Based on the results of the discussion, it can be concluded that the results obtained that simultaneous analysis of liquidity ratios there is no significant effect on the profitability of the company. It can be seen from the f-count 2)t As for suggestions that can be given the author is a company should manage current ratio (current assets and current liabilities) well to a good level of liquidity memeproleh company can enhance its liquidity by increasing current assets but remains current debt, or should reduce current debts but assets remain . In order to achieve the planned levels of profitability then the management must be able to properly manage and loans for a number of assets owned memebiayai so as to increase profits of manufacturing companies in Jakarta Stock Exchange

PENGARUH CURRENT RATIO, RETURN ON EQUITY DAN EARNING PER SHARE TERHADAP RETURN SAHAM PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2010 – 2019

2021 ◽  
Vol 5 (1) ◽  
Author(s):  
Susi Lusiana
Keyword(s):  
Data Collection ◽  
Stock Returns ◽  
Stock Return ◽  
Stock Exchange ◽  
Financial Statements ◽  
Financial Ratios ◽  
Manufacturing Companies ◽  
Current Ratio ◽  
Return On Equity ◽  
Earnings Per Share

The study of this research is to determine the effect of returning shares in manufacturing companies. This study uses the financial ratios contained in the company's financial statements. The financial ratios used in this study are the current ratio, return on equity, and earnings per share to stock returns in manufacturing companies listed on the Indonesian stock exchange in 2010-2019. This type of research used in this research is quantitative and the analytical method used is purposive sampling using SPSS 21 as many 10 manufacturing companies in the food, beverage, textile, rubber goods (tires), fisheries, and agriculture sectors. Data collection techniques are used by retrieving data through the website www.idx.co.id. The results showed that Current Ratio (CR) has a positive and significant effect on Stock Returns, Return On Equity (ROE) has a positive and significant effect on Stock Returns, and Earning Per Share (EPS) has a negative and significant effect on Stock Return.

Reducing the Risk of Wrong Choice in Group Decision Making by Optimal Weight Allocating to Decision Makers

2018 ◽  
Vol 7 (2) ◽  
pp. 1-23 ◽  
Author(s):  
Mohammad Azadfallah
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Potential Risk ◽  
Group Decision ◽  
Decision Makers ◽  
Topsis Method ◽  
Numerical Examples ◽  
Multiple Attribute ◽  
Key Issues ◽  
The Ideal

How to determine a weight for decision makers (DMs) is one of the key issues in Multiple Attribute Group Decision Making (MAGDM). While, some experts (or DMs) clearly wiser and more powerful in such matters than others, it has often seen that experts play their roles with same weights of importance. Meanwhile, it will lead to the wrong choice (or decision risk) and loss of values. Since, in the absence of any other standards about how to reduce this potential risk for bias, in this article, based on judgment matrices and error analysis, the author presents two new algorithm taken from crisp (the correlation-based approach) and interval (the ideal-based approach) TOPSIS method, respectively. Finally, two numerical examples are given to demonstrate the feasibility of the developed method.

Novel MCGDM with q-rung orthopair fuzzy soft sets and TOPSIS approach under q-Rung orthopair fuzzy soft topology

2020 ◽  
Vol 39 (3) ◽  
pp. 3853-3871
Author(s):  
Muhammad Tahir Hamid ◽  
Muhammad Riaz ◽  
Deeba Afzal
Keyword(s):  
Group Decision ◽  
Real Life ◽  
Linguistic Variables ◽  
Topsis Method ◽  
Vikor Method ◽  
Soft Sets ◽  
Fuzzy Soft Sets ◽  
Topsis Approach ◽  
The University ◽  
The Ideal

 In this article, we study some concepts related to q-rung orthopair fuzzy soft sets (q-ROFS sets), together with their algebraic structure. We present operations on q-ROFSSs and their specific properties and elaborate them with real-life examples and tabular representations to develop influx of linguistic variables based on q-rung orthopair fuzzy soft (q-ROFS) information. We present an application of q-ROFS sets to multi-criteria group decision-making (MCGDM) process related to the university choice, accompanied by algorithm and flowchart. We develop q-ROFS TOPSIS method and q-ROFS VIKOR method as extensions of TOPSIS (a technique for ordering preference through the ideal solution) and VIKOR (Vlse Kriterijumska Optimizacija Kompromisno Resenje), respectively. Finally, we tackle a problem of construction business utilizing q-ROFS TOPSIS and q-ROFS VIKOR methods.

scholarly journals The Relative Importance of Financial Ratios in Making Investment and Credit Decisions in Jordan

2021 ◽  
Vol 12 (2) ◽  
pp. 284
Author(s):  
Mohammad Ahmad Alqam ◽  
Haitham Yousef Ali ◽  
Yaser Mohd Hamshari
Keyword(s):  
Scientific Literature ◽  
Financial Analysis ◽  
Stock Exchange ◽  
Study Data ◽  
Decision Makers ◽  
Financial Ratios ◽  
Relative Importance ◽  
Amman Stock Exchange ◽  
Second Category ◽  
Industry Area

This study has aimed to demonstrate the relative importance of financial analysis using ratios for each of lenders and investors in Jordan when making decision.Also; this study, included the financial ratios that could be adopted by decision makers in the industry (area) of lending or investment. The study included two categories; first is the category of financial intermediaries; to express the category of investors in Amman stock exchange (ASE), while the second category included employees of credit departments -in Jordanian banks- for the category of lenders.The collection of study data was based on a review of the subject's scientific literature, previous studies and by preparing a questionnaire that was designed on the basis of the theoretical framework of the study and its hypotheses.The objectives of financial analysis are to judge the efficiency of management and to use the information available to make various administrative decisions. The study found that financial ratios are used by data users when making decisions related to investment and lending. The results of the study also revealed the interest of lenders in debt and liquidity ratios, while investors' attention is focused on profitability and market ratios.

scholarly journals Determinan Audit Delay dan Timeliness

2015 ◽  
Vol 1 (2) ◽  
pp. 100
Author(s):  
Oyong Lisa
Keyword(s):  
Stock Exchange ◽  
Financial Statements ◽  
Decision Makers ◽  
Financial Statement ◽  
Prediction Tool ◽  
Manufacturing Companies ◽  
Audit Report ◽  
Timely Manner ◽  
Analysis Technique ◽  
Independent Audit

<em>Timeliness of drafting or reporting an audit report on the company's financial statements could affect the value of such financial statements. If financial statement information is not delivered in a timely manner, thus it is not relevant which could reduce or eliminate the ability of the financial statements as a prediction tool for users or decision makers. Audit delay is the length of time the audit completion is measured from the date of closing of the financial year until the date of completion of the independent audit report. This study aims to analyze the effect of the companysize, solvency and profitability towards audit delay and timeliness. The populatin of this research was manufacturing companies listed in Indonesian Stock Exchange at 2011-2013, based on purposive sampling 25 companies used as sample. The analysis technique used is multiple regression analysis. The results show that the size of the company, solvency, and profitability simultaneously and partially affect audit delay and timeliness. The most contributed variable towards audit delay is profitability, while most contributed variable towasds the time-liness is the company size.</em>

scholarly journals Relationship between Financial Ratio and Financial Statement Fraud Risk Moderated by Auditor Quality

2019 ◽  
Vol 8 (4) ◽  
pp. 34-43
Author(s):  
Tomy Rizky Izzalqurny ◽  
Bambang Subroto ◽  
Abdul Ghofar
Keyword(s):  
Stock Exchange ◽  
Hypothesis Test ◽  
Financial Statements ◽  
Financial Ratios ◽  
Manufacturing Companies ◽  
Financial Statement Fraud ◽  
Financial Ratio ◽  
Fraud Risk ◽  
Auditor Quality

This study was aimed to prove the research hypothesis that there are effects of financial ratios, which consist of profitability, leverage, and liquidity on the financial statements fraud risk, and the quality of auditors are able to moderate the relationship between financial ratios to financial statements fraud. This study uses a population of manufacturing companies that publish their financial statements on the Indonesian Stock Exchange in 2016-2017 will also be summarized and inferred. This study uses purposive sampling so that the study sample amounted to 275 firm years. The dependent variable uses the financial statements fraud risk with the proxy Dechow F-score. The independent variable in this study consisted of profitability with ROA ratio, leverage using the calculation of the ratio of total liabilities to total assets, and liquidity using the calculation of the ratio of total current assets to current liabilities. The moderating variable in this study is auditor quality as a moderating variable with a dummy variable. The Hypothesis test conducted is using moderated regression analysis (MRA). The results of this study indicate that the financial statements fraud risk is influenced by financial liquidity ratios, while financial ratios of profitability and leverage have not been proven to affect financial report fraud. This study provides a contribution by providing evidence that the quality of auditors can suppress fraudulent actions on financial statements with low profitability. This research provides information to regulators to pay more attention to companies that experience liquidity problems, and become input for regulators to make rules that improve the quality of auditors.

Identifikasi Hubungan Linier dan Non-Linier antara Rasio-Rasio Keuangan dan Return Saham

Akuntabilitas ◽  
2019 ◽  
Vol 12 (1) ◽  
pp. 83-92
Author(s):  
I Made Pande Dwiana Putra ◽  
I Dewa Nyoman Badera
Keyword(s):  
Stock Returns ◽  
Multivariate Regression ◽  
Regression Models ◽  
Stock Return ◽  
Linear Models ◽  
Financial Ratios ◽  
Manufacturing Companies ◽  
Non Linear ◽  
Profitability Ratios

Researches on relevance of financial ratios on stock returns mostly adopt linearity assumptions. This research aims to show the relevance of financial ratios on stock return and to compare the accuracy of linear and  non linear models. Linear and non  linear multivariate regression models are constructed from several financial ratios towards stock return to identify ratios with significant influences and subsequently compared in regard of their determinations. The samples consist of manufacturing companies listed on IDX  from 2009 through 2016 totaling 97 companies. Results of bivariate regressions show consistent relationships exist in form of positive-quadratic relationships for profitability ratios (ROA and ROE) and negative-logarithmic relationships for liquidity and solvability ratios (CR, QR and DER). In general, profitability ratios remain the dominant ratios affecting stock returns

scholarly journals Effect of Activity Ratio, Productivity And Profitability on Liquidity in Manufacturing Companies on Indonesia Stock Exchange

2020 ◽  
Vol 1 (2) ◽  
pp. 98-103
Author(s):  
Putri Yanti ◽  
Neni Marlina Purba
Keyword(s):  
Activity Ratio ◽  
Stock Exchange ◽  
Financial Statement ◽  
Manufacturing Companies ◽  
Significance Level ◽  
Food And Beverage ◽  
Calculation Results ◽  
Negative Effect ◽  
Profitability Ratios ◽  
Productivity Ratio

The purpose of this study was to determine the effect of the Activity, Productivity and Profitability ratios on liquidity in Indonesian stock exchange companies. The independent variables used in this study are the ratio of activities, productivity ratios, and profitability ratios. Meanwhile, what is used as the dependent variable is the liquidity used based on the Indonesian Stock Exchange (IDX) company. The population used in this study were all manufacturing companies in the food and beverage sub-sector, totaling 17 companies. The data used is from companies that publish complete financial statement data for the 2015-2019 period. Based on the calculation results obtained t-count -2.131 <-2.03951 and the significance level is 0.041 <0.05, it is concluded that H1 is accepted, which means that there is a significant negative effect between the ratio of activity to liquidity. The productivity ratio is -0.508> -2.03951 while the significance level is 0.615> 0.05. So that the hypothesis H2 is rejected, which means that there is no influence between the productivity ratio to liquidity. Profitability ratio obtained t-value of 7.933> 2.03951 and a significance value of 0.000 <0.05, so that the hypothesis H3 is accepted, which means that there is a positive and significant effect on the ratio of profitability to the liquidity ratio and the results of data analysis obtained an f-count value of 24.014> 2.90 and a significance value. 0.000 <0.05. This shows that the activity, productivity and profitability ratios simultaneously have a significant effect on the liquidity ratio.

scholarly journals Analisis Laporan Keuangan untuk Memgukur Kinerja Keuangan Perusahaan Telekomunikasi yang Terdaftar di Bursa Efek Indonesia

2019 ◽  
Vol 1 (2) ◽  
pp. 287-296
Author(s):  
Mujari Mujari
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Financial Statement ◽  
Financial Ratios ◽  
Time Deposit ◽  
One Year ◽  
The One ◽  
Turn Over ◽  
Solvency Ratio ◽  
Profitability Ratios

This study aims to assess the financial performance of PT Telekomunikasi Indonesia Tbk by analyzing financial statements using financial ratios. The research data was obtained from the Indonesia Stock Exchange (IDX). The results showed the performance of PT Telekomunikasi Indonesia Tbk based on liquidity ratios from 2015 to 2018 was not good, where the company's Current Ratio (CR) in 2015 to 2018 was less than 100%. The solvency ratio of PT Telekomunikasi Indonesia Tbk in 2015 to 2018 is good, where the company's Debt to Assets Ratio (DAR) in 2015 to 2018 is no more than 100%. The profitability ratio of PT Telekomunikasi Indonesia Tbk in 2015 to 2018 is good, where the results of the calculation of profitability ratios are greater than the one-year time deposit interest rate. The ratio of activities of PT Telekomunikasi Indonesia Tbk in 2015 to 2018 is not good, where the Total Assets Turn Over (TATO) is less than 1, which means the company is less productive. Keywords: Financial Statement, Financial Performance, Financial Ratios

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